Our opportunity for a buy comes from 2 scenarios. We have an inverse head and shoulders that looks to be forming. Also on a high time frame we recently broke a mini Resistance and this is the only notable retest of breaking that resistance. Resistance might become support. And lets not forget we have CPI release in 40 minutes So we forecast a weak dollar but as we all know the market is its own boss. Trade safely!!!
Trade closed: stop reached:
The set up didn't go according to plan but we are going to the drawing board with some valuable lessons.